Ah. Important snag there. Increased production isn't always possible. There is a limited supply of land suitable to grow wheat on. That supply of land isn't magically getting bigger when they prices are ricing. There is also a limit to how much you can produce on that piece of land.

BTW - I'm not saying anything about if it is possible to increase today's production or not. My point is that there will be a very hard and real limit to the production of any specific agricultural product - and no economic price/demand mantra will be able to raise that limit.

The classical price-demand-production-supply relationship is a wonderful mechanism when it works and a real [censored] when it doesn't.